Nikkei Slips Amid Japanese Political Uncertainty
The Nikkei 225 index fell 1.4% to 47,406.06 on Tuesday, pressured by growing political uncertainty in Japan. JPMorgan analysts called the decline a complete reversal of the "Takaichi trade"—a term referring to expectations of fiscal expansion, delayed interest rate hikes, a weaker yen, rising stocks, and a steeper yield curve.
Several blue-chip stocks posted sharp declines, with MonotaRO plunging 6%, Ebara Corp. down 4.85%, and Chugai Pharmaceutical falling 4.3%. Meanwhile, USD/JPY was steady at 152.49, compared to 152.29 at Monday's close in New York, after Japanese markets were closed the previous day.
Source: Newsmaker.id